When one listener told me “Check out this Forex trader, he’s getting a bit of a following” I didn’t think I’d be hooked and end up listening to most of his shows, watching his YouTube channel and even reading the blog!

One of the reasons was because it’s not that often you get access to years of knowledge form someone who “cracked it” as a Fx trader and is now able to make a living trading other peoples money.

But the main reason was his no nonsense approach. Telling people how this market really works, how the big banks rule this world and sharing a list of tools every retail trader should avoid.

To get a taster for VP, take a listen to our interview first then click the links below to dive in deeper.


Podcast Interview




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Interview Links

VP@NoNonsenseForex.com
NoNonsenseForex.com
YouTube –
No Nonsense Forex

Recommended Books

Discipline Equals Freedom by Jocko Willink

Broker and Platform

Oanda

Key Lessons

  • [13:20] Every pair has different volatility and you can’t have the same exact risk-to-reward across the board. It has to be percentage-base because everything is different.
  • [17:16] I do constantly try to improve what I have. I still dedicate a couple of hours a night just to testing out different indicators, different settings, and measuring them up against what I currently have.
  • [17:27] Never ever stop trying to improve.
  • [19:04] Cryptocurrency allowed so many brand-new, novice investors to come into the game that had no clue on how to actually manage a trade or an investment.
  • [25:07] You can really do well and do some damage just by trading the daily chart.
  • [27:04] The more things that are out of your control that you can get rid of, the better off you are, because things are completely up to you. Let your system to do the work.
  • [27:53] What typically happens in the flash crashes is, people who are on the vast majority of a side, whether it’s long or short, are the ones that really get crashed.
  • [28:42] It’s important to know who moves the price up and down.
  • [29:41] If there’s a big move based on what those retail traders do, the banks and the market makers are going to react to it and yet that is another thing you can’t control.
  • [30:13] Money Management. It’s one of the things that almost no retail traders out there really possess and if you could just get a structure for that you can easily follow, and you don’t even have to think about it, that alone will really put you ahead of the game.
  • [31:50] When retail traders go one way in a big choreographed move, the banks will always go the other way.
  • [33:33] The Stock market doesn’t affect me, the nonsense on the US Dollar doesn’t affect me, and even bad news that comes out from one of those currencies still wouldn’t affect me. It just allows me to be that technical trader that I am.
  • [35:18] If you put a system together that you know works then you wouldn’t have to worry about the mental game.
  • [41:11] The mechanics of the Forex market in many ways were completely different. You guys are learning the 1960’s game while the modern day game is out there, you just got to go and get it.


VP’s Trading

  • He trades Forex
  • He uses indicators in trading and in managing his trades
  • He trades all major currency pairs
  • He only trades for ten to fifteen minutes per day
  • His longest trade lasted for two months
  • His risk-reward ratio is based on the ATR (Average True Range) indicator
  • ATR is his favorite indicator
  • He uses an “Exit” indicator which helps him get out of a losing trade
  • He’s purely a technical trader
  • Though he’s fascinated with Cryptocurrency, he isn’t trading it
  • He also trades Metals, Gold, and Silver
  • VP took about 4 years before he became consistently profitable
  • A cross-pair that doesn’t have any news is his favorite entry setup




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